All Forum Posts by: Nicole Hoss

Update: Crane Credit Union only services a select number of townships in Indianapolis. The township my LLC is in is not one of them. So, on to the next credit union!

I thought that was the case as I have called them before. HOWEVER, our LLC has an Indy address. I wonder if they would accept that?

We are needing a portfolio lender in the Indy area who will work with an investor who lives out of state. Credit score is good; income is good; just need suggestions at this point!

Nicole 

Morning! Looking at a 5-plex in Indianapolis and need a commercial lender who will loan to out of state investors. Suggestions welcome!

@Jordin Boyd great question. We are starting our business as well and were wondering the same thing. How important is it to have a business plan for financing?

@Nick S. Might want to pick up a local wholesaler/property manager to help you navigate around. We had one ride with us on Friday and was able to specifically tell/show us which neighborhoods are C, C+, B, etc.

Exactly!! That's why we are pretty bent on NOT touching the equity we have in our house. We want to keep it completely separate which is why we won't be purchasing anything until we can get a local Indy lender (Monday goals).

@Jay Hinrichs Financial, we're really good, we are just wanting to keep our business expenses separate from our home (HELOC). I have received a number of contacts for local banks in Indy that I will be following up with on Monday morning. Our visit to Indy yesterday went really well and we found out that the banks there are happy to work with investors. Thank you for your advice!

Once we actually buy something, we certainly will! Still working on that financing piece... :)

I can confirm this. I live out of state and visited Indy yesterday to view investment properties. I was amazed how drastically home values change in a couple block area. One thing we learned is that a seemingly "bad" area adjacent to a nice area, makes that "bad" area not so bad. Does that make sense?